SEC’s Crypto Safe Harbor Proposal Advances to White House Review

Highlights:

• SEC crypto safe harbor proposal has entered White House review before formal public release.
• The plan outlines three exemptions to give crypto projects clearer fundraising and compliance rules.
• Atkins said lasting crypto clarity may still require support from Congress and future legislation.

The U.S. Securities and Exchange Commission’s proposed crypto safe harbor framework has reached the White House review stage. Speaking at Vanderbilt University’s Digital Assets and Emerging Technology Policy Summit on Monday, SEC Chair Paul Atkins said the proposal is now with the Office of Information and Regulatory Affairs, or OIRA. That office reviews major federal rules before they are published.

A White House review does not mean the rule is final. However, it confirms that the proposal is now part of the official federal rulemaking process. Atkins said, “We’ll have reg crypto that we’ll be proposing here shortly. It’s in fact at OIRA right now, which is the next step before being published, so that’s exciting.”

Excited to take part in @VanderbiltU and @BlockchainAssn's Inaugural Summit on Digital Assets and Emerging Technology where I'll share more about the @SECGov's work to modernize regulatory efforts and encourage innovation.

Tune in below! https://t.co/1WR8RQADa4

— Paul Atkins (@SECPaulSAtkins) April 6, 2026

What the SEC’s Safe Harbor Plan Includes

Atkins first shared the broader framework in a 17 March speech called Regulation Crypto Assets: A Token Safe Harbor.

In that speech, he said the SEC should consider three main parts. The first is a startup exemption that could give some crypto projects up to four years of relief from registration rules while allowing them to raise up to $5 million with public disclosures. The second is a fundraising exemption that could let issuers raise up to $75 million in 12 months, as long as they file disclosure documents with the SEC.

The third part is an investment contract safe harbor provision. It explains when a crypto token is no longer treated as a security. Under this idea, a token can move out of securities laws once the company has finished the main work it promised. This includes building the project or delivering its core features.

These provisions address a long-standing issue in the crypto industry. The proposal also follows a similar direction to Section 103 of the Senate’s CLARITY Act. That section also supports a system based on clear disclosures for crypto fundraising.

SEC Seeks Stronger Legal Foundation for Crypto Rules

SEC Chair said the crypto framework needs support from Congress. He noted that SEC rules can change when a new administration takes office, but legislation is more stable and longer lasting. During the Vanderbilt summit, he said the agency can do a lot through regulation, but the goal is to make sure the progress stays in place.

Separately, the SEC is also working on an innovation exemption for decentralized finance, or DeFi. This idea is often described as a regulatory sandbox. It would allow some on-chain projects to operate under custom rules while they continue to develop.

SEC Chair Paul S. Atkins said in an interview with CNBC that the Commission expects to issue an “innovation exemption” for the crypto industry in about a month. Atkins also stated that the SEC plans to introduce new policies next year to improve the market environment for IPOs.…

— Wu Blockchain (@WuBlockchain) December 2, 2025

However, there is still debate over how the SEC should move ahead. Traditional finance firms want the agency to use the full notice-and-comment process before granting such exemptions. At the Monday event, Atkins said the agency can move ahead with an exemption. He also said the SEC will soon share its approach for the innovation exemption.